Increased operating margins and lower income taxes and interest have helped Chile’s leading brewer CCU cut its second quarter net loss by 65.5% this year.
Go deeper with GlobalData
The company reported an April-June net loss of US$1.4m compared to a net loss of US$4.0m in the same period a year earlier.
Revenues were up 10.6% in the period to US$110.4m as volumes increased 9.1%. The company also managed to push through some price increases.
CCU said lower income taxes were a result of the absence of the effect of the peso depreciation in the quarter. Meanwhile a decrease in minority interest payments was a result of lower net income at its winery unit, Vina San Pedro.
“In this period, the beer Chile and beer Argentina businesses performed very positively,” the company said in a statement, adding that the wine segment did more poorly than expected.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalDataThe company reported a 3.3% rise in operating profit to US$1.4m.
